iPhone 5 sets a sales record; 2 million pre-orders in 24 hours by Philip Elmer-DeWitt @FortuneMagazine September 17, 2012, 1:49 PM EDT E-mail Tweet Facebook Google Plus Linkedin Share icons FORTUNE — Based on first-day orders, the iPhone 5 is the fastest-selling device Apple AAPL has ever released. The company announced Monday that it took more than 2 million pre-orders in the first 24 hours. Last October, the iPhone 4S racked up 1 million orders in the same time period. “IPhone 5 pre-orders have shattered the previous record held by the iPhone 4S ” said Apple chief marketing executive Phil Schiller. AT&T T had earlier reported that it took a record number of pre-orders both on Friday, the first day they were available, and over the weekend. Some skeptics had suggested that the reason Apple experienced iPhone 5 stock-outs an hour after pre-orders started was that it had stockpiled smaller supplies of the device than previous models. Apple’s and AT&T’s announcements would seem to discredit that theory. iPhones ordered today, according to Apple, won’t be delivered until October. You can read the company’s press release here.